Lira getting Stronger - Why?

[kevin3]

  It's just hit the milestone  Tl 4.50 and heading in one direction.

[Colwyn]

The Central Bank left rates unchanged this afternoon and the TL immediately dropped against £, $ and €. The £ now on 4.525. Which means Brits can get 1.25% more lira for their quid than they could this morning.

[Scunner]

And Colwyn's 50 lira note is worth £11.05

[JohnF]

Wouldn't surprise me to see 5tl to the pound shortly, and it's inching ever closer to 3tl to the dollar.

Expect another slide against the dollar shortly if the Fed increases their interest rates.

I feel sorry for anyone stuck with a large amount of lira - if you live in Turkey, and don't have any need of foreign currency then it'll be less of a hit as its only inflation that'll nibble away at your stash.  However, anyone who had hopes of the lira strengthening a year/eighteen months ago when it was 3 something to the pound must be regretting not bailing out when they could at a reasonable rate (in comparison to now).

JF

[Scunner]

Yep, and to think I was almost suicidal changing the last of our lira back at 3.11

[Colwyn]

And Colwyn's 50 lira note is worth £11.05

Yeah rub it in why don't you? And since you posted it has gone down to £11.01.

[usedbustickets]

I warned you to take my generous offer of a 50,000,000 old turkish lira note.  Too late now mate...  

[usedbustickets]

It looks like the financial vultures are hovering around the TL, determined to drive down the rate even more, towards a back breaking 'target' they have in mind of 3TL to the $ ....... I feel sorry for the Turks (mostly the poor) who are not able to bale out of their own currency to safer foreign currencies. Reg and the his croney AKP Government do nothing on this and other economic issues, except to blame everyone else, and demand - completely unrealistically - a cut in interest rates from the Central Bank Governor.... you would struggle to make this sort of nonsense up

Even sadder is the fact that this all plays into Reg's hands.  He can point to the enemies within and without Turkey, in particular the financial speculators - for which people are supposed to read Jewish - and why Turkey need a strong leader (dictator) with a mandate to sort out these economic problems, and other non-economic problems like the Kurds/Syria once and for all!! .... and the mugs lap it up, and then I wonder why I feel sorry for them

REG YOU AINT THE SOLUTION TO THE PROBLEM .........  YOU ARE THE PROBLEM

[JohnF]

Yep, and to think I was almost suicidal changing the last of our lira back at 3.11

I remember   

And Colwyn's 50 lira note is worth £11.05

Yeah rub it in why don't you? And since you posted it has gone down to £11.01.

Another week or so and you'd be as well wiping your arse with it, it'll be worth less than a sheet of Andrex...

JF

[Colwyn]

it's inching ever closer to 3tl to the dollar.

2.92 this afternoon. 3.00 by the end of the week? Will any action be triggered when it passes 3? Basci seems to be sitting on his hands.